Bitcoin’s price has fallen by almost half in the last six months

The world’s most widely used cryptocurrency, Bitcoin, fell to $34,500 on May 9. All in one day, it lost about 3.8% of its price. This happened just a couple of days after crypto analysts had commented on the price chart, there were really a lot of signals, so you can’t say it’s a surprise.

It has to be said that Bitcoin’s price has been falling for more than a day now. After the mark of $34.5 thousand, the price continued its fall, and already on May 10 it lost another $1 thousand. If this continues, it will reach its lowest level since the middle of last year.  

In fact, the cryptocurrency has been fluctuating between $35,000 and $46,000 for several months now. And there have been changes in the market as a whole when going beyond the set limits. As for the all-time high, it was observed at the end of last year and the mark was $69,000, so today’s drop by half is a serious blow.

Already at the end of last week, numerous indicators were already pointing to a change for the worse, because over the last few months, indicators have started to decline critically.

On Friday there was a report from the US Department of Labour which showed an increase in employment for the whole month and the figures were stable. This should also have worried the Federal Reserve as tightness is increasing and there is no understanding of what to expect in the labour market. Wages and salaries may increase soon, which in turn will affect inflationary pressures. In other words, monetary conditions are very likely to tighten.